Summit Hotel Properties (INN) has been under a strong bear grip, hence the stock is down -1.88% when compared to the S&P 500 in the past 4 weeks. However, in the near-term, buying emerged at lower levels and the stock has outperformed the S&P 500 by 0.9% in the past 1 week. The stock has risen by 1.43% in the past week indicating that the buyers are active at lower levels, but the stock is down -3.86% in the past 4 weeks.
The stock has recorded a 20-day Moving Average of 3.23% and the 50-Day Moving Average is 3.8%.The 200 Day SMA reached 10.99% Summit Hotel Properties, Inc. is up 5.74% in the last 3-month period. Year-to-Date the stock performance stands at 12.47%.
Summit Hotel Properties (INN) : The most positive equity analysts on Summit Hotel Properties (INN) expects the shares to touch $16, whereas, the least positive believes that the stock will trade at $13 in the short term. The company is covered by 7 Wall Street Brokerage Firms. The average price target for shares are $14.64 with an expected fluctuation of $0.85 from the mean.
For the current week, the company shares have a recommendation consensus of Buy. Summit Hotel Properties (NYSE:INN): stock was range-bound between the intraday low of $13.3 and the intraday high of $13.6 after having opened at $13.5 on Fridays session. The stock finally closed in the red at $13.5, a loss of -0.96%. The stock remained in the red for the whole trading day. The total traded volume was 1,342,777 shares. The stock failed to cross $13.6 in Fridays trading. The stocks closing price on Thursday was $13.44.
Summit Hotel Properties, Inc. (Summit REIT) is a real estate investment trust (REIT). The Company is a self-managed hotel investment company. It focuses primarily on acquiring and owning select-service hotels in the upscale and upper-midscale segments of the United States lodging industry. As of July 8, 2015, the Companys portfolio included 93 hotels with a total of 11,933 guestrooms located in 23 states. Approximately 61 of its hotel properties with 8,169 guestrooms are categorized as upscale hotels and 29 of its hotel properties with 3,294 guestrooms are categorized as upper-midscale hotels. The Company holds both general and limited partnership interests in Summit Hotel OP, LP (the Operating Partnership). Over 97.4% of the Companys hotel guestrooms operate under franchise brands owned by Marriott, Hilton, IHG and an affiliate of Hyatt. Its hotels are located in markets, such as business and corporate headquarters, retail centers, airports and tourist attractions.